VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

Enbridge Inc. vs Kongsberg Gruppen ASA

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Enbridge Inc.

ENB · Toronto Stock Exchange

Market cap (USD)$104.9B
SectorEnergy
CountryCA
Data as of2025-12-31
Moat score
92/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Enbridge Inc.'s moat claims, evidence, and risks.

View ENB analysis

Kongsberg Gruppen ASA

KOG · Euronext Oslo Bors

Market cap (USD)$22.8B
SectorIndustrials
CountryNO
Data as of2025-12-28
Moat score
81/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Kongsberg Gruppen ASA's moat claims, evidence, and risks.

View KOG analysis

Comparison highlights

  • Moat score gap: Enbridge Inc. leads (92 / 100 vs 81 / 100 for Kongsberg Gruppen ASA).
  • Segment focus: Enbridge Inc. has 4 segments (72.8% in Liquids Pipelines); Kongsberg Gruppen ASA has 4 segments (49.5% in Kongsberg Maritime).
  • Moat breadth: Enbridge Inc. has 6 moat types across 3 domains; Kongsberg Gruppen ASA has 9 across 4.

Primary market context

Enbridge Inc.

Liquids Pipelines

Market

Crude oil & liquids pipeline transportation plus terminals/storage

Geography

North America (Canada & U.S.)

Customer

Producers, refiners, marketers (shippers)

Role

Midstream pipeline operator

Revenue share

72.8%

Kongsberg Gruppen ASA

Kongsberg Maritime

Market

Maritime technology & integrated ship systems (propulsion, automation, bridge, energy efficiency, service)

Geography

Global

Customer

Shipyards, shipowners, offshore operators, naval customers

Role

OEM and systems integrator; aftermarket service provider

Revenue share

49.5%

Side-by-side metrics

Enbridge Inc.
Kongsberg Gruppen ASA
Ticker / Exchange
ENB - Toronto Stock Exchange
KOG - Euronext Oslo Bors
Market cap (USD)
$104.9B
$22.8B
Sector
Energy
Industrials
HQ country
CA
NO
Primary segment
Liquids Pipelines
Kongsberg Maritime
Market structure
Oligopoly
Oligopoly
Market share
29%-31% (reported)
30%-35% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
92 / 100
81 / 100
Moat domains
Legal, Supply, Demand
Demand, Supply, Legal, Network
Last update
2025-12-31
2025-12-28

Moat coverage

Shared moat types

Long Term ContractsCapex Knowhow Scale

Enbridge Inc. strengths

Permits Rights Of WayPhysical Network DensityRegulated Standards PipeConcession License

Kongsberg Gruppen ASA strengths

Installed Base ConsumablesService Field NetworkCompliance AdvantageGovernment Contracting RelationshipsDesign In QualificationData Workflow LockinEcosystem Complements

Segment mix

Enbridge Inc. segments

Full profile >

Liquids Pipelines

Oligopoly

72.8%

Gas Transmission and Midstream

Oligopoly

11.8%

Gas Distribution and Storage

Monopoly

14.4%

Renewable Power Generation

Competitive

1%

Kongsberg Gruppen ASA segments

Full profile >

Kongsberg Maritime

Oligopoly

49.5%

Kongsberg Defence & Aerospace

Oligopoly

38.2%

Kongsberg Discovery

Competitive

8.8%

Kongsberg Digital

Competitive

3.5%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.